The Office of Fair Trading (OFT) is a regulator set up by Her Majesty’s Government of Gibraltar. It was established on 7th October 2015 and forms part of the Ministry of Commerce.
The OFT’s legal framework is enshrined within the Fair Trading Act 2015 and its subsidiary legislation. Its primary objectives are:
- to protect the interests of consumers and prevent harmful business practices;
- to ensure a fair market is maintained for all businesses in Gibraltar;
- to license and regulate Gibraltar businesses;
- to facilitate the establishment of new businesses in Gibraltar; and
- to prevent the laundering of illicit funds using high value dealers and real estate agents.
It shall meet these objectives by:
- encouraging businesses to comply with consumer law;
- by investigating and reviewing business practices which may harm consumer interests;
- by undertaking efficient licensing, regulatory and investigatory work; and
- by issuing information and educational guidance.